Finance

Is Zedvance The New Face Of Financial Inclusion In Nigeria?

Zedvance Limited recently unveiled plans to increase its customer base, by a significant number, across Nigeria, in the next five years.

The consumer finance company made this known at its fifth year anniversary in Lagos. Speaking at the event, Adedayo Amzat, Group Managing Director of Zedcrest Capital Limited and Founder/CEO of Zedvance Limited, pointed out the resolve of the company to make a headway in the financial industry, through its attention to the yearnings of the Nigerian populace, by placing value on customer service, tech innovation and data science.

“We are proud to be a leading industry player in the consumer finance sub-sector, ranking easily among the top three providers of credit, across most metrics. If you ask me, what makes us different from the pack, I’ll say, it’s that, we are a customer-centric brand. We listen to our customers and carry them along, across every process of our product development and services”, Adedayo Amzat stressed.

Zedvance sets to expand its scope of providing consumer credit beyond salary earners, as it is now understood that, it is a limiting part of the economy. Small business owners are due to be beneficiaries of this extension.

Zedvance - cfamedia

Zedvance Website Screenshot

Considering the Nigerian ever-increasing population, however, does Zedvance have the strength to facilitate its financial inclusion plan to all its target customers, in all strata of the market, through user-friendly technology?

An overview of Zedvance in the last 5 years
Zedvance , founded in March 2014, with a staff strength of 5, but in its half-decade life, boasts of over 300 personnel and according to the Founder/CEO, the consumer finance company has changed the paradigm, broken new frontiers and improved the lifestyle of its users.

With one branch at birth, the company has expanded into five more in Lagos and extended its branches to Abuja and Oyo state.

The company implements technology-enabled services, as the core of its business, making it, the first non-bank lending institution to integrate WhatsApp business into its platform.

Changing the narrative of financial inclusion
Access to loans, for small business owners and private individuals, have always been a mountain with a jagged edge to climb.

This process might never scale through in commercial banks or takes too long a time in accessing these, thus, creating a gap between commercial banks and their customers. This gap had to be bridged by other financial institutions and this gave birth to Zedvance.

According to the Founder/CEO, an average Nigerian consumer is credit-worthy and deserves to get served, with a fast and convenient financial service.

The institution also prides itself in rendering loan access to its users, in the shortest space of time.

What the future holds
Nigeria is the most populous black nation in the world and definitely the most populated in Africa, with this, Zedvance financial inclusion plan sets to cut across Nigeria.

The relevance of non-bank lending platforms can no longer be brushed aside, as they have set a pace for commercial banks to jump into the financial inclusion space.

The idea of financial inclusion for Zedvance, is its ability to provide multiple loan options to its users. As remarked by the Founder/CEO, Zedvance has given the power back to the consumer, by democratizing lending access and leading a drive, for a credit based economy.

Its current number of users, run in hundreds of thousands and in the next few months, Zedvance plans to unveil new products, partnerships, and initiatives, for an expanded financial inclusion.

Featured image

L-R: Adebowale Banzi, Group Head, Marketing & Brand Communications, Zedcrest Capital; Aminat Sheu, Product Manager, Zedvance Limited; Adedayo Amzat, Founder/CEO, Zedvance Limited & Group Managing Director, Zedcrest Capital Group; and Michael Nwanna, Chief Technology Officer, Zedcrest Capital at Zedvance 5 Years Anniversary Press.

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